Bank Litigation

Subscribe to Bank Litigation via RSS
Department of Treasury

On February 10, 2025, Rodney E. Hood, the former Chairman of the National Credit Union Administration (“NCUA”), assumed the role of First Deputy Comptroller at the Office of the Comptroller of the Currency (the “OCC”).  By operation of law, Mr. Hood thereby succeeded Michael J. Hsu as Acting Comptroller of the Currency under 12 U.S.C. § 4, which grants the First Deputy Comptroller the full authority of a Senate-confirmed Comptroller whenever the position is vacant.  Although President Trump nominated Jonathan Gould, a current partner at Jones Day and former chief legal officer at blockchain firm Bitfury, to serve as Comptroller, Mr. Hood now leads the OCC in an acting capacity.  Mr. Hood brings extensive experience to the role, having previously served on the NCUA Board of Directors, the U.S. Treasury’s Financial Stability Oversight Council and as Vice Chairman of the Federal Financial Institutions Examination Council.Continue Reading Treasury Secretary Bessent Taps Rodney E. Hood to Lead the OCC

bank vault
Bank vault

The U.S. Department of the Treasury (the “Treasury”), the Board of Governors of the Federal Reserve System (the “FRB”) and the Federal Deposit Insurance Corporation (the “FDIC” and collectively with the Treasury and the FRB, the “Agencies”) took several actions on March 12, 2023 in an effort to contain the fallout from the recent failure of two insured depository institutions. Those actions are noted below.Continue Reading U.S. Government Agencies Address Recent Bank Failures and Fallout

Watching and waiting2

On March 23, 2021, the Illinois Community Reinvestment Act (“IL CRA”) was signed into law.  The stated purpose of the IL CRA is to ensure that covered financial institutions are equitably providing financial services across the state, including to low- and moderate-income neighborhoods, and areas where there is a lack of access to safe and affordable banking and lending services.  Since that time, the Illinois Department of Financial and Professional Regulation (the “IDFPR”) has been working to finalize the IL CRA’s implementing regulations. Continue Reading Watching-and-Waiting: The Illinois Community Reinvestment Act

Please join James M. Kane and James W. Morrissey, Co-Chairs of the Financial Institutions Group, and Mark C. Svalina, Associate, at Vedder Price, for a webinar presentation on regulatory, compliance and related issues banks can expect to encounter in 2022.
Continue Reading Banking Update Webinar- What to Expect in 2022

Please join James W. Morrissey, Co-Chair of the Financial Institutions Group, and Mark C. Svalina, Associate, at Vedder Price, for a webinar presentation on regulatory, compliance and related issues banks can expect to encounter in 2022.
Continue Reading Banking Update Webinar- What to Expect in 2022